Ivanhoe Corporation purchased equipment for $63,500 on January 1, 2021. It was depreciated based on a seven-year life and an $17,650 residual value. On January 1, 2023, Ivanhoe revised these estimates to a total useful life of four years and a residual value of $11,100. Prepare Ivanhoes entry to record 2023 depreciation expense. Assume that Ivanhoe follows IFRS and uses straight-line depreciation. (List debit entry before credit entry. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)